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Car Leasing

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Anonymous
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Car Leasing

Hi!  Newly found this page today and looks like it has a lot of great info.  My current score is 650 (equifax) and I am looking to replacing my aging trailblazer with a new leased vehicle (probably about $23,000??).  My question, what kind of impact does that type of credit score have on a lease option?  Maybe this isn't something that can be answered through here, but thought it might be a good place to try.  I do have a couple of negative things on file, but they were all last year and lasted no more than one 30 day period for each (I think a total of 3 or 4 things that had a 30 day late marker on them).  Otherwise, credit is going pretty smooth.  Husband and I will be working to pay off ALL credit card debt by the end of this summer to help increase both our scores, though I'd really like to start a lease now.  Do I wait until the end of the summer and see how far our scores have gone (and drop more $$ into the aging blazer that in the end I will be getting rid of) or try for a lease right now?  I guess my big question is are leases harder to come by than auto loans?

 

Thanks!

Message 1 of 4
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Anonymous
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Re: Car Leasing

In general leases are harder to come by then an actual purchase.  At your score, you may be SOL on a lease, or at getting a lease at terms for more favorable then a purchase.

Message 2 of 4
Anonymous
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Re: Car Leasing

Thanks...sounds like I'm better off putting some $$ into the blazer for now and working on paying it off and improving the score over the next year.  

Message 3 of 4
Anonymous
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Re: Car Leasing

at a 650 I can't tell you that. Your best bet would be to go in and see what you can get.

Message 4 of 4
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